According to TheMarketPeriodical, Bitcoin price is testing the $93,000 to $94,000 zone as traders monitor its next move. Open interest dropped sharply from $45 billion to $28 billion following a major long squeeze. JPMorgan has launched a structured product tied to BlackRock’s IBIT, offering potential returns of up to 16% if IBIT meets certain price targets. Analyst Ted Pillows noted that a move above $94,000 could push Bitcoin toward $100,000, while a rejection may send it back to $88,000. The average cost basis for spot ETFs remains around $79,000, with no major selling observed from large holders. The market is also watching how open interest regrows and how Bitcoin behaves near key resistance levels.
Bitcoin Price Eyes $95,000 as Open Interest Drops and JPMorgan Launches New Product
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